Either do nothing if don’t believe or take decisive action if believe. Running around like head less chicken doesn’t help.
If you think Knox ask a good question, it shows you are as lost as him. What is he planning to do or do nothing? He didn’t state his position. Asking questions like this sound philosophical but worthless. Be pragmatic. Be action-oriented.
I am not afraid of 10,000, only fearful of the what-if.
Some actions I did,
AAPLs - Call replacement
TQQQs - Sold all 4500, replaced with 1000 QLDs
Potential 10x-100x stocks, bought a placeholder stake ~$2500 each
Holding lots of MRNA and REGN… probably when these peak, is the start of the “crash”
I plan to do nothing, but like to poke fun at the doom-and-gloomers.
TA people are usually fooled by randomness that they mistook as patterns in nature. The 70 RSI line is pretty randomly assigned as the threshold for overbought. Why 70 and not 65 or 75? Even when you looked at that one-year chart (why just one year BTW) there are couple of times RSI touched/crossed 70 and SPX didn’t go down.
Told you overbought and oversold of RSI are pretty worthless, forget? You need some memory enhancement drug!
The real stuff is divergence There is no way SPX would crash without a bearish divergence. I see no bearish divergence on the chart. In fact, every day passed, I am more confident of my view that SPX should go to 4450 before a crash is possible. Panda is too bearish, he keeps adjusting his final final target for SPX, now he is at my 4250… soon would be 4450. I believe my chart below is correct,
You spent one second to ask a question. I spent many hours to prepare materials to explain to you. Below is the explanation of bearish divergence and what I expect to happen in order for a crash to happen…
I meant bearish divergence on a weekly chart. Look at the weekly chart below. I annotate the bearish divergence that occurred during the Feb 2020 crash. I expect similar divergence to happen at completion of wave 5 (the label is [I].(V).V.5 - irrelevant to you).
Whatever TA most people do is super easy to program on a computer. It’s not like some advanced statistical arbitrages that disappear in a minute, and requires a team of PhD’s and super fast data feed direct from the exchanges to pull off. One would think if these simple TA’s worked in the past, like way back in the pre-computer past, it would have stopped working for a long time now. Every teenager can program that kind of simple TA on their PC’s.
First thing first, did you learn commutative and noncommutative operations in mathematics ?
Assuming you do, are you assuming commutative property here? Why do you assume that?
Occurrence of event A should have the occurrence of event B doesn’t mean occurrence of event B will lead to occurrence of event A.
To use RSI effectively, there are many tricks of the trade See quote below… comment on Puru’s testing. RSI is extremely reliable yet many people don’t know how to use it effectively Trick of the trade
You are assuming they know how to use them effectively
That’s not true. Because many people don’t understand TA or don’t know how to use them effectively. Many traders are still using moving averages, basic support/ resistance/ trend lines, RSI and MACD.
Hallmark of a good trader is not because he can forecast accurately, is he knows when to strike… so don’t try to find an ideal forecasting system, invest your time and effort to learn how to smell like Panda… so far, he is pretty good at that…
Note the bearish divergence on the weekly chart of QQQ. One of the condition is met One! not all conditions Might have top but I am betting it is not yet in… riding the tiger for the last lap to 350 or higher. Knowing that there is a tiger in the hills, insist on going to the hills.
Watch the red lines… if 307 doesn’t hold, next is 257, still can’t hold, 164.93… once below 235.93, confirm century corrective in action. Once peak, drop to 307 within 3 days!!!
Now that you are sufficiently scared… look at the lower degree count, see chart attached… I am counting $350 as wave 3 so not expecting the retracement to be lower than $316.16… if lower than I will consider it a retracement of the impulse from Mar 2020… if it is keeps going lower, lower than $235.93, then I will consider a century corrective wave in action… one more thing, break below pitchfork is in wave 4… tabulated…
Break below pitchfork is in wave 4
Wave 4 retracement - not lower than $316.16
Impulse from Mar 2020 retracement - not lower than $235.93
Less than $235.93 - In century corrective wave
I will not wait to find out which is the correct count… will close TQQQs, QQQ calls and QLDs around $350. Thereafter, monitor closely… no shorts and no long puts… I am a long only trader.
In that case, you can get back your free time by selling your stock portfolio and invest the proceeds in ARKK. Your family would thank me for this suggestion.
Panda has been reading this forum. He now has a turn date on Apr 23 which we have mentioned it like moons ago. Also, his EW is How can w-4 looks the same as w-2. Should be an expanded/ running flat or triangle.
Trick of the trade 
or 
would be between Apr 23 - Ap28 inclusive.
One! not all conditions 
How can w-4 looks the same as w-2. Should be an expanded/ running flat or triangle.